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of <h1>Amendment to EPCG Scheme: Sick Units Get 12 Years to Fulfill Export Obligations, Offsetting Allowed for Excess Exports</h1> The Central Government has amended Notification No. 28/97-Customs under the EPCG Scheme, which provides concessional duty for capital goods, components, and spares. The amendment allows a sick unit, once taken over for revival, to fulfill its export obligation within 12 years from the license issue date. Additionally, export obligations for a particular year can be offset by excess exports from preceding years. However, licenses with a 12-year export obligation period will not be granted further extensions. These changes are made under the authority of the Customs Act, 1962, to serve the public interest.
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